Registration number: NI622773

Maxwell Fisheries Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 10

Maxwell Fisheries Limited

Company Information

Director

Mr Finbar Maxwell

Registered office

60 Old Court Strangford Co Down Northern Ireland BT30 7NG

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Maxwell Fisheries Limited
for the Year Ended 28 February 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Maxwell Fisheries Limited for the year ended 28 February 2026 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in Ireland, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Maxwell Fisheries Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Maxwell Fisheries Limited and state those matters that we have agreed to state to the Board of Directors of Maxwell Fisheries Limited, as a body, in this report in accordance with the technical guidance issued by the Institute of Chartered Accountants in Ireland. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maxwell Fisheries Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Maxwell Fisheries Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Maxwell Fisheries Limited. You consider that Maxwell Fisheries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Maxwell Fisheries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

KPS Chartered Accountants
Chartered Tax Advisers
Registered Auditors
35 Irish Street
Downpatrick
Co. Down
BT30 6BW

23 June 2026

Maxwell Fisheries Limited

(Registration number: NI622773)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	29,683	34,079
Investment property	6	429,649	429,649
		459,332	463,728
Current assets		4,109	5,187
Creditors: Amounts falling due within one year	7	(227,520)	(210,152)
Net current liabilities		(223,411)	(204,965)
Total assets less current liabilities		235,921	258,763
Creditors: Amounts falling due after more than one year	7	(121,497)	(135,948)
Net assets		114,424	122,815
Capital and reserves
Called up share capital	11	10	10
Retained earnings		114,414	122,805
Shareholders' funds		114,424	122,815

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Maxwell Fisheries Limited

(Registration number: NI622773)
Balance Sheet as at 28 February 2026

Approved and authorised by the director on 23 June 2026
 

......................................... Mr Finbar Maxwell Director

Maxwell Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
60 Old Court
Strangford
Co Down
BT30 7NG
Northern Ireland

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the profit and loss account has been taken.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Maxwell Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & machinery	33.33% straight line
Motor Vehicle	25% reducing balance
Office equipment	15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Maxwell Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

4	Profit/loss before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	5,480	6,286

Maxwell Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 March 2025	53,232	2,500	6,181	61,913
Additions	1,083	-	-	1,083
At 28 February 2026	54,315	2,500	6,181	62,996
Depreciation
At 1 March 2025	20,886	1,709	5,239	27,834
Charge for the year	5,046	198	235	5,479
At 28 February 2026	25,932	1,907	5,474	33,313
Carrying amount
At 28 February 2026	28,383	593	707	29,683
At 28 February 2025	32,346	791	942	34,079

6	Investment properties

	2026 £
At 1 March	429,649
At 28 February	429,649

There has been no valuation of investment property by an independent valuer.

Maxwell Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	8	14,565	15,376
Taxation and social security		2,174	41
Accruals and deferred income		4,540	4,944
Other creditors		206,241	189,791
		227,520	210,152

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	8	121,497	135,948